Moët Hennessy Acquires Joseph Phelps Vineyards

MOËT GOES TO NAPA: Bernard Arnault has a few more drink options.

Moët Hennessy, the wines and spirits division of the Arnault-led LVMH Moët Hennessy Louis Vuitton, has acquired Joseph Phelps Vineyards.

Founded by Joseph Phelps in 1973, the Napa and Sonoma-based wine collection is said to be one of the most respected and acclaimed in the U.S. It is known for its legendary Insignia, a Bordeaux-style Napa-grown blend, considered one of the…